Bitcoin still on bearish trend. Until it cross 8900$ for me still bearish trend. Up to where it will go down no one can say exactly. Might be down up to 7500$ to 7K. But if cross 8900$ then Bitcoin will bullish trend and price will increase rapidly and recover itself.
If bulls can break $9,000 and hold above on pullback, it'll look bullish. That's a major level from S/R perspective (in fact, it was my stop loss for that reason).
I disagree. you can't call this any trend because it is not moving at all. what happened was that price fell below $9k in one big move and then nothing happened ever since that day.
Technically, we're still in a downtrend from the $20K high, at least in terms of Dow theory. We need to break the series of lower highs, so that means breaking above $10,000. I'm still partial to the $14,000-$16,000 bull trap idea. But I won't be convinced until we make a higher high.
